AUSWR
The Association of U S West Retirees
 

 

 

Qwest CEO sees opening for mergers
By Amy Thomson, Bloomberg News
Denver Post
Friday, September 18, 2009

Qwest chief executive Ed Mueller said there are more opportunities for acquisitions now because stock prices have dropped through the recession.

Qwest might buy other companies or sell its own businesses as the number of phone carriers contracts, said Mueller, 62, at a Goldman Sachs Group conference Thursday in New York. Denver-based Qwest provides local-phone service in 14 states.

Carriers are looking to acquisitions to help spur growth as their fixed-line customers switch to other options, such as phone service with cable- television operators.

Verizon Communications bought Alltel for about $28 billion this year, and AT&T is seeking regulatory approval to buy wireless carrier Centennial Communications.

Qwest halted bidding for its long-distance network three months ago after failing to attract satisfactory offers.  Mueller said that after a review, Qwest decided the network was worth more to investors within the company.

http://www.denverpost.com/search/ci_13362385